Government cannot make it a legal tender or can accept it as a payment system because that would compete directly with their governed money. At the same time in a democratic country they cannot ban it completely because for that they would solid reasons to do that. If they do ban it some how it will make them look like non progressive infront of the world.
When you lose money they will tell you that they have already told you to invest at your own risk. They make it look like people will lose money by investing in crypto. At the same time they know that those who Hold on to their crypto currencies they will never lose.
But they can create a FUD out of it,so that people go mad after it?👏👏👏
Problem is govt can't give assurity with Fiat money to the commoners,but can waive millions to the rich,& if the rich didn't pay back govt took that money through commoners tax.
Yes, It is true to some extent. They send notices to 1 lakh small bitcoin investors but let people like Nirav modi escape with 1.8 billion dollar worth of bank money. Then later they will cover this loss by people's hard earned money.